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     FrontPage Edition: Tue 10 July 2007

Weather: Meteorological Service Singapore    High & Low Tides

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Advance GDP estimates for second quarter 2007

Source: www.mti.gov.sg

Advance GDP Estimates for Second Quarter 2007

 

2Q06

3Q06

4Q06

2006

1Q07

2Q07*

Overall GDP

8.0

7.0

6.6

7.9

6.4

8.2

Goods Producing Industries

Manufacturing

11.9

9.5

7.7

11.5

4.4

10.2

Construction

0.9

5.8

4.7

2.7

11.6

17.9

Services Producing Industries

6.9

6.3

6.6

7.0

7.2

7.0

* Advance estimates

The Singapore economy registered strong growth in second quarter of 2007.
Advance estimates1 show that real gross domestic product (GDP) rose by 8.2 per cent on a year-on-year basis in the second quarter, up from 6.4 per cent in the previous quarter.
On a quarter-on-quarter seasonally adjusted annualised basis, real GDP grew by 12.8 per cent following 8.5 per cent in the first quarter.
Underpinned by strong growth in the biomedical manufacturing and transport engineering clusters, the manufacturing sector is estimated to have grown by 10.2 per cent the second quarter, up from 4.4 per cent in the previous quarter.
The construction sector is estimated to have expanded by 17.9 per cent in the second quarter, up further from 11.6 per cent in the previous quarter.
The services producing industries is estimated to have grown by 7.0 per cent in the second quarter compared with 7.2 per cent in the preceding quarter. The healthy performance was led by financial services.
The preliminary GDP estimates for the second quarter of 2007, including sectoral performances, sources of growth, inflation, employment and productivity, will be released in August 2007 in the Economic Survey of Singapore.

MINISTRY OF TRADE AND INDUSTRY

10 July 2007

1 The advance GDP estimates for second quarter 2007 are computed largely from the first two months' data (i.e. April and May 2007). They are intended as an early indication of the GDP growth in the quarter, and are subject to revision when more comprehensive data becomes available.

Source: www.mti.gov.sg News Release 10 Jul 2007

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